Page 117 - Encyclopedia of Business and Finance

eobf_C 7/5/06 2:57 PM Page 94

Careers in Law for Business

applied to redress enrichment secured by tort, Lawyers may advise on the risks, assumptions, and
part performance of contract, duress, or mistake. benefits of doing business in a foreign country. Questions

Government contracts: Laws and regulations apply to may arise concerning international commercial transac-
contracts with governmental bodies and agencies. tions and investments, the impact of U.S. securities and
antitrust laws, and trade laws of the United States and
other countries.
Legal Practice for Individuals. Individuals need a wide
range of legal services in the area of business. Some serv-
ices are provided for investors or owners in business situ- Labor Relations Law. State and federal laws deal with
ations; others, for persons finding themselves in difficulty. employee representation, collective bargaining, and
employer-union practices. These laws, the National Labor
Trust and estates: Legal consideration must be given Relations Act, and related federal and state labor laws
to community property systems, federal gift and
often make legal counsel necessary.
estate taxes on property transfers, estate planning Attorneys provide counsel in collective bargaining
not involving property, living wills, delegation of and with the negotiation and arbitration processes.
health care decision-making, and gifts to as well
as guardianship of minor children. Related legal Statutes such as those involving fair employment
forms involve living trusts and gift strategies. practices, workers’ compensation, fair labor standards,
unemployment compensation, and Social Security protect
Family law: Family law can involve relationships of workers against insecurity, discrimination, economic
married couples, unmarried couples, or couples
exploitation, and physical damage. Their purpose is to
undergoing divorce. Additional family relation-
guard against unequal opportunity linked to race, sex,
ships that may involve lawyers include parent and
religion, age, physical disability, and other factors.
child. unmarried parents, neglected children, fos-
ter care, and adoption. Legal questions linked to public policy arise from rep-
resentation questions, limitations on the right to strike,
Taxes: Attorneys can assist in tax planning for indi-
grievance arbitration, impasse procedures, and the scope
viduals. especially where issues arise between the
of bargaining.
taxpayer and the Internal Revenue Service or
state taxing authorities. They also deal with taxa-
tion implications for corporate organization, Educational Law Practice. Legal issues arise from educa-
reorganization, and liquidation. Some attorneys tional financing, integration and segregation, punishment
deal with international tax problems, such as methods applied to children, and alternatives to public
jurisdictional rules, tax situations between indus- school education.
trialized countries and developing countries, and
host country taxation of foreign persons. Poverty Law. Although often unable to pay, the poor fre-
quently require legal services. Some indigents make con-
Real estate transactions: In this field, lawyers deal
tact with public-interest law firms or offices that provide
with options, binder contracts, and rights and
legal services for the poor. In this area, lawyers deal with
duties between vendor and vendee among other
things. Lawyers also practice in basic land con- issues such as welfare rights, health, education, public
tract and mortgage law as well as real estate assistance, or housing.
recording systems. They work with both land-use
controls and water-rights laws. They may also Legal Research and Writing. Some lawyers engage in legal
deal with environmental law and institutions. research and writing. This work involves library and com-
puterized research, brief and memorandum writing,
Legal Practice for International Business. International organization of legal material, and prediction of rules of
trade in the world is becoming more prevalent and law. Much of this activity takes place in law schools or at
increasingly legally complex. This increases openings for the appellate court level.
interested attorneys.
International legal practice may involve issues of Other Areas of Law Practice. There are a number of addi-
recognition and nonrecognition of governments and tional areas of law practice. These include legal problems
nations, interpretation of treaties and other international related to technology and society, bioethics, science, psy-
agreements, the effect of peace and war, and international chiatry, and attempts to achieve progress in developing
claims. countries.

94 ENCYCLOPEDIA OF BUSINESS AND FINANCE, SECOND EDITION